Equity capital markets
Activity in Asian equity markets totalled $1 billion through 11 transactions during the past week, down from the $2.4 billion raised during the previous week.
AU Optronics’ $326 million follow-on through Citi and UBS was the biggest deal of the week and also the fourth-biggest tech ECM transaction so far this year in the region.
Tech ECM volume in Asia ex-Japan stands at $4.8 billion in 2013 year-to-date, up 31% on the $3.7 billion compared to the same period last year.
UBS has narrowly taken the lead in the league table ranking on the AU Optronics’ deal with $7.2 billion, followed by Goldman Sachs and Morgan Stanley.
Debt capital markets
Three issuers tapped the Asian G3 bond market for $5.6 billion during the past week, up from the $5.3 billion raised during the previous week, which brings year-to-date volume to a record $74.2 billion in 2013 year-to-date.
Cnooc’s $4 billion trade through Bank of China, CICC, Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, Bank of America Merrill Lynch and UBS was the biggest deal of the week and also marks the second-biggest G3 trade in the region on record, and the largest G3 trade by a Chinese issuer.
Chinese issuers have tapped the G3 market for a record $25.7 billion so far this year, more than double the $10 billion raised in 2012 year-to-date and could potentially surpass the full year record set in 2012 ($29.2 billion).
HSBC leads the league table ranking with $8.5 billion in 2013 year-to-date, followed by Standard Chartered and Deutsche Bank, respectively.
